Michael Burry – VW could take Tesla’s Lunch!
The world’s largest automaker is imposing competition on Tesla. Volkswagen sold 231,600 electric vehicles in 2020. This is still significantly less than Tesla’s sales volume, but 214% more than last year’s own results. These statistics indicate that the German automotive industry is starting to challenge the leader in electric vehicles..
«We are on the right track towards our goal of becoming the market leader in electric vehicles.», – said the CEO of Volkswagen Passenger Cars Ralph Brandstatter.
The most popular Volkswagen battery electric car is the new ID. 3 bought 56,500 times. Sales of compact e-Golf and e-up! to 41,300 and 22,200, respectively. Eco models from Audi and Porsche have been purchased in total almost 70,000 times.
Sales of hybrid vehicles powered by electricity and conventional fuels also increased. Volkswagen sold 190,500 hybrids last year, up 175% from 2019.
«2020 marks a turning point for Volkswagen and marks a breakthrough in the EV segment», – said Brandstatter.
However, Tesla still poses a major challenge for the German auto giant.. Company Ilona mask reached its goal of producing 500 thousand cars in 2020. Output and shipments increased by more than a third compared to the 2019 level. This is an impressive increase considering the company’s Fremont plant has been closed for nearly two months due to the coronavirus pandemic.. The company is also building a factory in Germany after opening another in China in 2019..
Investors have rewarded Tesla by making it one of the world’s most highly regarded companies. Its market value is more than eight times that of Volkswagen, although the German company produces about 19 times as many vehicles..
Volkswagen has said it plans to invest € 35 billion in electric vehicles by 2025, and 2020 sales figures show customers are starting to respond.. The manufacturing giant aims to launch roughly 70 new clean electric models by 2030 as it is determined to catch up with its American competitor in this segment..
Other german automakers join the race. Bmw sold 44,530 EVs in 2020, up 13% from the previous year, and over 148,000 plug-in hybrids. Daimler Mercedes-Benz has sold over 160,000 hybrids and electric vehicles.
Volkswagen is trying to prove that the automaker, which just a few years ago tricked regulators by selling polluting diesels, can produce electric vehicles that will appeal to consumers and satisfy conservationists..
In some markets the company is making special progress. In Norway, where financial incentives make most EV models cheaper than gasoline-powered counterparts, the Audi e-tron has become the 2020 sales leader, surpassing Tesla 3..